Does anyone have oil and gas production figures to date ( not the 24 hour test ) on the Gadwall well, Sec 30,T12NR5W in Canadian County, Ok, which was completed on June 4th, 2018.
I.contacted them last month and they told me to get back with them in a month. 2 weeks ago I emailed and got no response.
Thanks, John, Same here.
This is a reply to my own post on the Gadwall well.31-30 t12nr5w. The Oklahoma Tax Commission now reports six month total production thru November 2018 of 12,111 bbls of oil and 227,927 mcf of gas. During that period oil averaged about $65/bbl and gas averaged about $2.75/mcf. A quick estimate of income would of course, be your mineral acres divided by 640 X your royalty interest x production. Production costs would be anyones guess. Jones is scheduled to file bankruptcy on this April 15th so good luck getting your division orders.
Thank you Wallace for the update. I am in Section 31. Jones drilled 2 wells, one into section 30 and section 6 below 31. We receive only 30% of the production from each. You receive 60%. I understand that they usually complete a Chapter 11 in 2 months. Let’s hope we can start seeing something soon. They still will owe us the 12% interest on the money owed.
They are required to continue to pay royalties during a bankruptcy.